Quebec saw 180 insolvencies, including bankruptcies and consumer proposals in May, down from 202 in April; Ontario’s figure dropped from 98 to 92; Saskatchewan from 11 to 10; PEI from 4 to 2; and Nunavut from 1 to zero.
There were increases though in 5 provinces, led by BC which saw an increase from 12 in April to 18 in May. Alberta increased to 10 from 6 in April; Newfoundland & Labrador doubled to 4; New Brunswick increased from 5 to 7; and Manitoba increased from 6 to 7.
There were no changes in Nova Scotia (8), Northwest Territories (0) and Yukon (0).
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Grenfell, Mundare, Oakville, Val Côté, Port Lorne
The number of individuals declared insolvent nationally declined in May but the rosier picture was largely driven by an 11 per cent drop in one province.